John Bogle on the Restoration of the Fiduciary Principle

Vanguard Founder John Bogle continues to write about the need to restore the notion of fiduciary duty in American business.

Writing in the Journal of Portfolio Management, Bogle attributes the financial crisis to the declining standards in fiduciary duty and overall business ethics.

While Bogle’s comments apply largely to investment managers and corporate managers, the notion of fiduciary obligations is highly relevant to the current debate surrounding the potential application of fiduciary standards to all financial advisors.

Source: Journal of Portfolio Management